Investment decision

I have 0.6 of a bitcoin. I am torn between the following two options.

a) buy about 1,000 peercoins
b) buy about 1,000,000 nushares

I could go 50/50, but that is boring

Which should I choose?

I stopped putting money into NuShares the week the peg collapsed and I found out JordanLee started posting as Phoenix. Have you been paying attention to that forum since then? His whole system is built on quicksand because it has no revenue to support its costly liquidity operations. Besides that, there is no point in participating in voting as a shareholder anymore because it has become clear that Jordan owns over 51% of the network and can pass any motion he wants, while at the same time pretending it’s not true and ignoring all calls for real revenue. He is committing psychological warfare against shareholders. I’m afraid instead of building a sustainable system with real revenue, (NuBits sold isn’t real revenue) he’s simply milking it like a Ponzi scheme.

Contrast that with the renewed hope and projects we see here at Peercoin and I think the choice is clear. Note: I used to own 1% of the NuShare supply until the peg broke and they started devaluing shares through auctions to restore the peg. I won’t buy anymore shares until I see some true changes in their system and some proper bookkeeping.

Peercoin is a good buy at the moment

I never bought any NuShares. I was vocal about it going to fail when I read the whitepaper. Instead of NuShares I would by Decred or keep the bitcoins.

EDIT: going all in (not diversiyfying) on Peercoin is a very risky trade.

Peercoin has been falling very steadily in price. You should be prepared to lose a minimum of 10 percent according to the trend. That doesn’t mean it’s not a good buy, but I don’t think it’s the optimal time.

I can only warn you about buying Nushares. Sentinelrv’s assessment is spot-on.
I’ve been trying to help improving Nu, but failed.
I was following Nu for some time and recognizing that it might have issues, which was the reason to not buy Nushares. When the issues surfaced I did what I could to turn Nu into a business, because I planned to buy Nushares after seeing some improvement.
I was fought very hard and decided to give up.
With all I read and experienced there’s no doubt for me that Nu is a ponzi scheme run by Phoenix/JordanLee.

You can of course hope for buying Nushares now and profit from a pump. There’s a chance to successfully speculate on Nushares, but it’s very risky.
You need to follow the development closely to know when it failed and you need to cut your losses.
I doubt that’s worth the time, if you only spend up to 0.6 BTC.
If you can bear a total loss and just want to gamble, buy some Nushares now, put them on sale at 120 - 160 Satoshis and wait for the order to be filled.

If you don’t want to keep your BTC (I highly recommend diversification; that means keeping some BTC as well), you need to find out what you’re after.

Here’s what I wrote recently to somebody regarding a special type of crypto coins:
Infrastructure services will play a role in the future of blockchain tech.
Emercoin provides PKI and other services. If they manage to pull that off big time, they will easily rise to several USD per EMC.
Storjcoin, Siacoin or others that deal with storage will get their share.
Ethereum, Synereo, Lisk who want to foster dApps might find some use.
Monero, Dash and others that focus on privacy will find their place.
NXT, BTS and others as platforms to issue assets have a place.

Each of the listed crypto coins might fail; coding issues, no market for it, be outsped by competitors, etc.
But at least they are different from Bitcoin in many ways and different from each other. The list is of course not complete. It’s just containing some samples that caught my attention. Peercoin of course is no bad choice either. It’s in many ways similar to Bitcoin, but the security protocol is very different. Peercoin is offering a kind of infrastructure service as well: a slight blockchain, where keys can be stored.

Do you think NuShares was a ponzi from the start, or did I just kind of morph into it?

I don’t know.
There are signs for paving the ground for a ponzi quite early in Nu’s life. But I might come to a wrong conclusion seeing a lot of it in hindsight.

What I’m pretty sure about is that Nu is at the moment a ponzi scheme that will be abused for pump&dump activities.

Any investment in Nu at this point should be considered an extraordinary gamble.

Like several others here, I was an early investor/minter of Nu and B&C. Although I still have all my original shares, I have written these off as complete losses. They are not the first bad investments I have made, nor will they likely be the last. I set aside speculative funds for such ventures, much like an angel investor would, and accept that loss of all capital is the most likely outcome.

I put my faith in the competence, integrity, and professionalism of the developers. I was, however, unable to wrap my mind around the economic/business model, particularly when the zero reserve debate began. I’m not claiming the Nu model is unworkable, only that I couldn’t understand it. Warren Buffet advises to never invest in anything one can’t understand and I was guilty of that.

I also question the value proposition of pegging a crypto-asset to fiat currency like the USD. Nubits and Tether can be useful to crypto-currency traders and speculators, but so far not much beyond that. One of the strongest appeals of stand-alone crypto-currencies like Bitcoin, Litecoin, Peercoin, etc is the complete independence from central bank control and manipulation.

if you absolutely must choose between these two, then peercoin is the only option. a lot of work is being done lately.

nushares are beyond repair right now, with current share distribution voting is centralised and since protocol allows new token creation, your share always dilutes. you lose from the start. bad investment, spoken by one who got burnt too with bigger amount than you propose to lose here.

idea of having non volatile token is appealing, just not in this incarnation.


What about a token that’s still volatile in matters of USD value, but less volatile than BTC?

Thank you for the feedback. I bought a princely 1,878 PPC


Check out my goodbye message at the Nu forum…

Good choice. At its peak price, that was more than $10,000 worth. Wow. What a deal! :wink:

NuShares isn’t really a cryptocurrency anymore, unfortunately.